In the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) - . ASU - is intended to simplify accounting for income taxes. It removes certain exceptions to the general principles in Topic and amends existing guidance to improve consistent application. ASU - is effective for fiscal years beginning after and interim periods within those fiscal years, which is fiscal for us, with early adoption permitted. We do expect adoption of the new guidance to have a significant impact on our financial statements.

     In the FASB issued ASU  - . ASU - requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. In the FASB issued ASU  - , which clarifies codification and corrects unintended application of the guidance, and in the FASB issued ASU  - , which clarifies or addresses specific issues about certain aspects of ASU - In the FASB issued ASU  - , and in the FASB issued ASU  - , both of which delay the effective date of ASU - by years for certain Smaller Reporting Companies such as us. We were unaffected by the change in the effective date of the ASU related to Leases (Topic ) because we have already adopted that ASU. In the FASB issued ASU  - ; which modifies the measurement of expected credit losses of certain financial instruments. In accordance with ASU - and ASU - ASU - is effective for certain Smaller Reporting Companies for financial statements issued for fiscal years beginning after and interim periods within those fiscal years, which will be fiscal for us if we continue to be classified as a Smaller Reporting Company, with early adoption permitted. We do expect adoption of the new guidance to have a significant impact on our financial statements.